All Forum Posts by: Brandon Cohen

it's most likely that it would be renewed but I would have the seller speak to the board and have your attorney check with the managing agent.  It's always a risk as it's their word only.  

@Ryan Still the reason for that is because the Upper East is flooded with studios and one beds.  Some areas of Brooklyn are extremely hot right now and the Upper East side, east of Lexington is not as desirable (to some).  You'll always see a good amount of inventory in that area, which sometimes can make it tough from a resale perspective.  

That said, in my opinion, it's still Manhattan over Brooklyn. 

@Ryan Still you should 100% stay away from co-ops if you're looking to rent immediately. While some have flexible sublet policies, they can change their policy whenever they feel like it.  

Also, both areas a great, West Village is in higher demand and therefore commands higher prices.  On the thought of appreciation, you should be looking to hold longer than 2 years, with transfer taxes/commissions/etc you won't be sitting pretty unless the market tanks tomorrow and rebounds that quick.  

Feel free to reach out I do this on a regular basis in Manhattan. 

Hi Michael,

I wouldn't necessarily know what the ramifications could be...you'll have to pay for the broker exam (and possibly course) and pay for the broker license itself...all in all nominal fees.  If your salesperson license is held by another brokerage then the positive angle is that you can go out on your own and don't have to share commissions.  There are of course the rules and regulations of getting a broker license, off the top of my head I do not recall but I believe it's 2+ years experience and/or a certain number of transactions under your belt.  

thanks @Jerry W. 

@Paul LaSpina I second property shark.  Happy to answer any questions about the market if you'd like.  

Does anyone have a preferred company they work with for turnkey properties in Philadelphia?  Trying to find the right company/management to work with as I don't have any direct contacts on the ground there.  

Thanks in advance for your advice, referrals.

Brandon 

Hi Simon,

I'm a real estate agent in Manhattan and work with investors both domestic and foreign.  If you're looking in the desirable parts of Manhattan you will have difficulty finding a 2 bedroom condo for that price (crazy, I know).  

My clients, and I'm sure the majority of Manhattan investors, aren't investing in Manhattan because they're getting great cash flow...they're investing because the stability of the market and great possibility for appreciation.  In today's market there are not many "deals" to be had...just great properties that hold their value.  

Happy to answer any questions you may have, feel free to Message or email.  

Brandon

@Darren Sager is there still room at this event?  If so I'd like to attend.

Hi Ekaterina,

Welcome!  I'm brand new myself.  From my experience, there are opportunities all over NYC, depending on your budget.  That said, I wouldn't necessarily say there are many "deals" to be had.  As I advise my clients, best to fully educate yourself in the market and type you want to invest in...that way when an opportunity comes along you can jump on it.